A few months ago, I closed out LRMI for the summer with a simple set of standing orders:
Negative AI headlines will come this summer. Every single one is a mispricing event.
We certainly got the volatility. Which creates excellent opportunity.
AI spending fears, capex concerns, crowded positioning, and plenty of headlines questioning whether the trade had finally gone too far. For stretches, the market gave investors every reason to doubt the theme.
And then, this past week, AI came roaring back.
The larger point from that final note still stands. Volatility does not automatically mean the underlying investment thesis is broken. The infrastructure buildout continues, capital continues to move into the ecosystem, and the opportunity set across AI remains enormous.
After spending the summer away from LRMI, I am officially back.
I have a long list of ideas I have been waiting to dig into, and plenty of new ones that came from what I learned over the past few months. Expect LRMI to get moving again very soon.
The floor is open.
If there are any companies, themes, markets, or ideas you would like me to cover, leave them in the comments below. I would love to hear what you want to see next.
Disclaimer: This is for educational purposes only. Not financial advice.
Welcome back. Would be great to get your take on the current status with MU down 30% and SNDK/Kioxia and the Koreans all down around 50%. Obviously the fundamentals and underlying businesses are only getting better with long term stability and growth. Is the excess leverage shaken out and is the “rotation to optics” meme real or just a temporary thing